15.05.2018
Viscom AG DE0007846867
DGAP-News: Viscom AG: Financial year starts with high customer investment. Modest revenue and EBIT so far. Outlook positive.
DGAP-News: Viscom AG / Key word(s): Quarter Results
Viscom AG: Financial year starts with high customer investment. Modest
revenue and EBIT so far. Outlook positive.
15.05.2018 / 07:55
The issuer is solely responsible for the content of this announcement.
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Viscom AG: Financial year starts with high customer investment. Modest
revenue and EBIT so far. Outlook positive.
Incoming orders: EUR 24,716 thousand (previous year: EUR 20,156 thousand,
+22.6 %)
Revenue: EUR 16,778 thousand (previous year: EUR 19,542 thousand, -14.1 %)
Order backlog: EUR 27,715 thousand (previous year: EUR 18,684 thousand,
+48.3 %)
EBIT: EUR 253 thousand (previous year: EUR 2,658 thousand)
EBIT-Margin: 1.5 % (previous year: 13.6 %)
Executive Board confirms forecast for 2018
Hanover, 15 May 2018 - For Viscom AG (ISIN DE0007846867), the European
market leader for automated optical inspection systems in the electronics
industry, the start to the 2018 financial year was again characterized by
strong investment on the part of its customers. With an order volume of EUR
24,716 thousand and a corresponding increase of 22.6 % on the same quarter
of the previous year, the mechanical engineering firm from the German state
of Lower Saxony achieved very good incoming orders. The order backlog also
rose significantly to EUR 27,715 thousand as at 31 March 2018 (previous
year: EUR 18,684 thousand), corresponding to full capacity utilisation for
more than three months.
In contrast, revenue at EUR 16,778 thousand was around 14 % lower than in
the first quarter of 2017 (EUR 19,542 thousand). Mr Schwingel, CFO of Viscom
AG, says: "Nonetheless, the figure achieved in the current financial year is
adequate for a first quarter. Moreover, 2017 saw an extraordinarily strong
start that was hard to top and was more an exception than a rule."
Operating profit (EBIT) amounted to EUR 253 thousand (previous year: EUR
2,658 thousand). This corresponds to an EBIT-Margin of 1.5 % (previous year:
13.6 %). This decline was due in particular to the lower revenue and the
capacity increases made in connection with the Company's high order backlog
and forecast growth prospects. These were reflected in increased staff costs
and other operating expenses. In addition, earnings were reduced by a
disproportionately large increase in commission expenses as a result of the
customer revenue structure. This item was also influenced by increased
repair and warranty expenses.
Europe was the Viscom Group's strongest region by some distance, generating
revenue of EUR 10,485 thousand in the first three months of the 2018
financial year (previous year: EUR 9,338 thousand) and accounting for around
62 % of total revenue. Revenue increased by around 12 % as against the
previous year. Revenue in Germany amounted to EUR 5,339 thousand (previous
year: EUR 3,915 thousand). Segment earnings in the Europe region totalled
EUR 196 thousand (previous year: EUR 1,944 thousand), corresponding to a
margin of 1.9 % (previous year: 20.8 %). At an encouraging EUR 15,887
thousand, incoming orders were up significantly on the same period of the
previous year (EUR 12,061 thousand).
Revenue in the Americas region decreased by around 51 % year-on-year to EUR
1,230 thousand (previous year: EUR 2,488 thousand) due to a smaller order
backlog as at 31 December 2017 and the unusually weak demand in Mexico. The
restraint in Mexico could be attributable to the slow progress of the
renegotiations of the North American Free Trade Agreement (NAFTA). The fact
that the major North American trade exhibition IPC APEX EXPO was held later
than in previous years also gives reason to suspect that the otherwise
positive sentiment of the American market will be delayed in affecting
incoming orders. These effects had a corresponding impact on segment
earnings, which were lower than in the same period of the previous year at
EUR -404 thousand (previous year: EUR 235 thousand). Incoming orders in the
Americas region amounted to EUR 1,573 thousand in the first three months of
the 2018 financial year (previous year: EUR 3,500 thousand).
In Asia, the first quarter of 2018 was particularly influenced by a sharp
increase in incoming orders compared to the same quarter of the previous
year. Orders worth EUR 7,256 thousand (previous year: EUR 4,595 thousand)
were placed in the region, especially including follow-up orders from new
customers of preceding financial years. However, the revenue and the segment
earnings in the region of EUR 5,063 thousand (previous year: EUR 7,716
thousand) and EUR 444 thousand (previous year: EUR 649 thousand)
respectively were below the strong figures of the previous year's
record-breaking first quarter. The EBIT-Margin amounted to 8.8 % (previous
year: 8.4 %).
Volker Pape, Executive Board member and founder of Viscom AG, comments: "The
first three months of the year were positive on balance. The healthy demand
for the company's X-ray inspection systems remains uninterrupted. In
addition, we had our best ever IPC APEX EXPO at the end of February, with a
record number of visitors inspired by the "ready for i4.0" intelligently
connected systems. At APEX in San Diego, we presented our complete range of
advanced inspection systems, including 3D SPI, 3D AOI, 3D MXI and 3D AXI. We
won the New Product Introduction (NPI) Award for the cutting-edge inline
X-ray technology of our X7056-II system."
The company remains on a clear, growth-oriented course for the future. The
orders of around EUR 28 million on the books as at 31 March 2018 and the
still strong incoming orders guarantee the Viscom Group good capacity
utilisation over the rest of the year. "In addition, we would like to
satisfy our existing customers, acquire new customers and above all expand
and strengthen our presence in future-oriented segments. We are extremely
well equipped to do so with the right structures and strategies, and our
technologies are being met with great interest on the market. Despite a
somewhat modest start to the year, we are therefore confirming the forecast
for the 2018 financial year that was published previously, with revenue of
between EUR 93 million and EUR 98 million and an EBIT-Margin of between 13 %
and 15 %," concludes Dr Martin Heuser, Executive Board member and founder of
Viscom AG.
The Interim Report 3M/2018 is now available in the Investor Relations
section at www.viscom.com.
OPERATING FIGURES
Consolidated statement of 1 Jan.-31 Mar. 1 Jan.-31 Mar.
comprehensive income 2018 2017
Revenue KEU- 16,778 19,542
R
EBIT KEU- 253 2,658
R
EBIT-Margin % 1.5 13.6
Net profit for the period KEU- 395 1,880
R
Earnings per share EUR 0.04 0.21
Employees at end of quarter 437 393
Consolidated statement of financial 31 Mar. 31 Dec.
position 2018 2017
Assets
Current assets KEU- 60,052 59,889
R
Non-current assets KEU- 12,511 11,453
R
Total assets KEU- 72,563 71,342
R
Liabilities and shareholders' equity
Current liabilities KEU- 12,709 11,804
R
Non-current liabilities KEU- 2,841 2,778
R
Shareholders' equity KEU- 57,013 56,760
R
Total capital KEU- 72,563 71,342
R
Equity ratio % 78.6 79.6
Consolidated statement of cash 1 Jan.-31 Mar. 1 Jan.-31 Mar.
flows 2018 2017
Cash flow from operating KEU- 1,291 3,971
activities R
Cash flow from investing KEU- -1,288 -554
activities R
Cash flow from financing KEU- 0 0
activities R
Cash and cash equivalents KEU- 11,459 9,904
R
SEGMENT INFORMATION
1 Jan.-31 Mar. 1 Jan.-31 Mar.
2018 2017
EUROPE
Revenue KEU- 10,485 9,338
R
EBIT KEU- 196 1,944
R
EBIT-Margin % 1.9 20.8
AMERICAS
Revenue KEU- 1,230 2,488
R
EBIT KEU- -404 235
R
EBIT-Margin % -32.8 9.4
ASIA
Revenue KEU- 5,063 7,716
R
EBIT KEU- 444 649
R
EBIT-Margin % 8.8 8.4
Consolidation differences KEU- 17 -170
EBIT R
About Viscom
Viscom AG develops, manufactures and sells high-quality inspection systems.
The product range covers the complete range of optical inspection and X-ray
inspection. The company is one of the world's leading providers in the field
of component inspection for electronics production. Viscom systems can be
configured and networked with each other according to specific customer
requirements. The company's headquarters and production site are in Hanover,
Germany. With a wide network of branches, application centres, service
support points and representatives, Viscom has an international presence.
Founded in 1984, Viscom has been listed on the Frankfurt Stock Exchange
(ISIN: DE0007846867) since 2006. For additional information, visit
www.viscom.com.
Where this release contains forecasts, expectations, or forward-looking
statements, these statements may be subject to risks and uncertainties. We
therefore cannot guarantee that these expectations will prove to be correct.
Actual results and developments may deviate significantly from the
expectations and assumptions expressed. The factors causing such deviations
may include changes in the general economic situation and the competitive
environment, exchange rate and interest rate fluctuations, and changes to
national and international legislation. The company assumes no obligation to
update the statements contained in this release.
Contact:
Viscom AG
Investor Relations
Anna Borkowski
Carl-Buderus-Str. 9-15
30455 Hannover
Tel.: +49-511-94996-861
Fax: +49-511-94996-555
[email protected]
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15.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Viscom AG
Carl-Buderus-Strasse 9-15
30455 Hannover
Germany
Phone: +49 (0) 511 94 996 861
Fax: +49 (0) 511 94 996 555
E-mail: [email protected]
Internet: www.viscom.de
ISIN: DE0007846867
WKN: 784686
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover;
Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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